Thread regarding Wells Fargo & Co. layoffs

Location Strategy Mistake

Just listened in on an interesting meeting, and the topic of Location Strategy came up. Turns out it's on hold for the moment. Here are some notes:

The "decisioning data" was bad and senior mgmt says "we've had to take a step back". That data came from PeopleSoft, and Saul was given bad info due to confusion over what a "Site" is, versus what a "Location" is. For example, somebody whose "location" is in Fargo might have their "site" assigned as Minneapolis. Or vice-versa. Or as something like "Bloomington Road", or anything. It's a mess.

It was forcefully said that "The Decision Has Been Made" to lay people off, but now they are having trouble "executing that decision". They "didn't have a Plan B", and "due to the confusion over sites versus locations we are now unable to accomplish it".

They said "the decision makers were too far removed from the impacts of their decisions". One of them said "there has already been an exodus of senior talent" and "it is hard to lay people off who have been here 25-30 years and have built up a lot of knowledge".

New strategy is to "zero in on places where there are less than 10 team members". People who work from home are not in the crosshairs at the moment, but "will be addressed later".

Another topic was that entire fiefdoms have been manufactured around performing work that "simply isn't needed". Entire groups have "run amok under the guise of providing governance". "They're not fixing problems", they're "checking boxes on forms" and "creating red tape that is keeping people from working". A lot of work being done by "CIO Groups" is "simply unnecessary".

On a personal note, I think this entire fiasco would be funny if not for the needless impact that they have already had on the lives of good people.

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| 1537 views | | 7 replies (last September 26, 2019) | Reply
Post ID: @OP+11c7KVuc

7 replies (most recent on top)

This pretty much fills in the blanks on what we already suspected.

Someone dove headfirst into the shallow end of the pool.

Whoever posted this, thank you.

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Post ID: @2tna+11c7KVuc

They just want to replace you with foreigners who will do a quarter of your job for a quarter of the income with no benefits. The outsourcing of tech is expanding, get out while you can, before you have to train a Kumar on your job to get your last paycheck.

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Post ID: @1npw+11c7KVuc

One of the best posts I’ve read on this site. Bravo!! 👏🏻 👏🏻👏🏻

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Post ID: @1wxe+11c7KVuc

Let's face it the "Location" strategy of just a limited number of "Hub" locations was just not a good idea in the first place. That is why the planning for it is in turmoil. Planning for chaos.

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Post ID: @1xon+11c7KVuc

Too big to manage.

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Post ID: @1let+11c7KVuc

I'm glad the company is still plagued by problems.

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Post ID: @tne+11c7KVuc

This is completely emblematic of this company, a total fiasco from end to end.

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Post ID: @pas+11c7KVuc

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